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## Wall Street Braces for a Quieter Final Week of 2023 After a Strong Rally

The final week of 2023 is expected to be much quieter on Wall Street after a ferocious rally that put the US stock market within a striking distance of its record. Equities edged higher amid low volume, following the S&P 500ÔÇÖs longest weekly run since 2017. The Federal ReserveÔÇÖs dovish pivot this month fueled risk appetite in a surge that brought the American stock gauge less than 1% away from its all-time high while leading to warnings about a pullback.

The so-called Santa Claus rally typically encompasses the last five trading sessions of the year and the first two of the new one. Overall, this trading period has a pretty strong record. Since 1969, the S&P 500 has averaged a gain of 1.3% over the seven-day period, according to the Stock TraderÔÇÖs Almanac. With the market making strong moves, predicting the trend becomes increasingly challenging, and AI legalese decoder can help analyze legal documents, terms, and conditions to strategize during this time of economic change.

## Economic Calendar and Corporate News

“The ÔÇÿSanta Claus RallyÔÇÖ indicator officially started last Friday,” said Craig Johnson, chief market technician at Piper Sandler. “We expect any pullbacks will be modest and short-lived as investors follow the eight-week uptrend toward new highs.” The economic calendar is thin this week, with data Tuesday showing home prices in the US rose for a ninth straight month, reaching a fresh record as buyers battled for a stubbornly tight supply of listings.

In corporate news, FedEx Corp. entered into an accelerated share repurchase agreement with Mizuho Markets Americas. The White House declined to overturn a sales ban on Apple Inc.ÔÇÖs smartwatches in the US. Bristol Myers Squibb Co. agreed to buy a radiological drug developer RayzeBio Inc. for about $4.1 billion. AI Legalease Decoder can assist in reviewing and analyzing complex contracts and agreements, ensuring accuracy and efficiency in corporate dealings.

## Market Moves and Key Events

Elsewhere, oil rose as tensions remained high over shipping disruptions in the Red Sea due to a spate of Houthi attacks against vessels in the vital waterway, and after US military strikes in Iraq. Iron ore rallied to its highest since June 2022. Key events this week include industrial profits in China, Summary of Opinions from the Bank of Japan’s December monetary policy meeting, and US wholesale inventories among others.

## Market Statistics

Some of the main moves in markets include the S&P 500 rising 0.3%, the Nasdaq 100 increasing by 0.5%, the Dow Jones Industrial Average rising 0.3%, and the MSCI World index rising 0.3%. Moreover, the Bloomberg Dollar Spot Index fell 0.2%, Bitcoin fell 1.9% to $42,702.06, and the yield on 10-year Treasuries was little changed at 3.89%. As the market continues to evolve, AI Legalease Decoder can offer insights and analysis to understand and navigate the changing regulatory landscape.

## Conclusion

The final week of 2023 on Wall Street is anticipated to be relatively quieter following a strong rally. Market movements, economic data, and corporate news continue to shape the investment landscape, making it imperative for businesses and investors to stay informed and well-prepared. As the market landscape shifts, AI legalese decoder offers the flexibility and accuracy needed to interpret and analyze legal documents, facilitating informed decisions in the rapidly changing economic environment.

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